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Research In Motion gapped higher today as the company announced a settlement of a long-term patent dispute. One interesting aspect of today's chart is how the bulls dramatically sent the price of the shares from Friday's low of $70.32 to the one year resistance level near $83 (dotted blue line). As you can see from the chart below, today's price action creates a situation where RIMM shares are trapped between two critical levels of support and resistance. Speaking technically, the bulls will need to wait for a close above the $83 resistance before they are able to confirm a move higher. It would not be surprising to see the price test the support of the center trendline (dotted red line) before the price heads even higher.

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